Now supermarket food prices jump by whopping 7% as UK prices increase faster than the rest of Europe - News - Evening Standard
       

Now supermarket food prices jump by whopping 7% as UK prices increase faster than the rest of Europe

The rise in food prices at the supermarket is accelerating, a study shows. Research found a record annual increase of seven per cent for June.


This is thought to be the highest rate for more than 15 years. It jumped from six per cent in May and 4.7 per cent in April.

The data, published by the British Retail Consortium, appears to support a recent study from the European Commission which found UK food prices are rising more quickly than most of Western Europe.

Families will feel the pinch at the supermarket with food prices rising by seven per cent

Families will feel the pinch at the supermarket with food prices rising by seven per cent

Despite this, the consortium says supermarkets are protecting families against the worst effects of commodity price rises.

Food would be even more costly if stores had not carried the burden of many price increases, for example, those on oil and transport. The cost of fresh food is rising particularly fast.

The annual increase was recorded at 8.4 per cent – up from 6.4 per cent in May.

Beef, pork, veal, chicken, dairy products, oils, margarine and cooking fats all saw large increases, it said.

The Daily Mail Cost of Living Index has found annual price increases of 19.8 per cent on a basket of essentials, from bread and milk to chicken and eggs.

According to the consortium, price inflation across all shops is rising at 2.5 per cent a year.

This including fashion and electrical stores, where prices are falling.

BRC director-general Stephen Robertson said: 'Although their own costs are going up, food retailers are running high-profile price cuts and promotions.

'They are keeping prices to customers down by cutting costs and increasing sales.'

A study this week showed that the major stores claimed a £200million windfall between 2005 and 2007 by increasing prices more than producers did.




Comments

Don't Miss
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
'He’s a better ex than he was a husband', says Boris Johnson's ex wife

A better ex than husband

We talk to Boris Johnson's ex wife
TV Baftas - in pictures

Best of the Baftas

Stars on the red, white and blue carpet
You big softie: Has Giles Coren put down his poison pen?

You big softie

Has Giles Coren put down his poison pen?
Pop star Paloma Faith, former Labour minister and Tory blogger back gay marriage video

Gay marriage

Pop star, former Labour minister and Tory blogger back gay marriage video
Promethipedia: the lowdown on Ridley Scott's new blockbuster Prometheus

Promethipedia

The lowdown on Ridley Scott's new blockbuster Prometheus
Prints charming: patterned trousers for summer

Prints charming

Patterned trousers for summer
Bob Geldof on grandchildren, activism and the state of music

Grandpa Bob

Bob Geldof on grandchildren, activism and the state of music
The Middletan: Kate Middleton has the most requested tan in London

The Middletan

Kate Middleton has the most requested tan in London